Silver Bullion’s storage of investment silver surpasses S$100 million

Posted by Vincent Tie on 04 Jul 2016


PRESS RELEASE
For Immediate Release
4 July 2016

Silver Bullion’s storage of investment silver surpasses S$100 million

  • Volume of silver stored has more than tripled since the The Safe House began operations
  • Volume of gold stored increased more than 200 percent over the same period

 

SINGAPORE: Silver Bullion Pte Ltd (www.silverbullion.com.sg), one of Singapore’s largest bullion dealers and silver storage provider, reported today that the value of investment silver stored at its vault has surpassed S$100 million, not counting safe deposit storage.

Over the past year, the volume of silver stored increased 80 percent to a new high of more than 4 million troy ounces or 124 metric tons. The volume of silver now stored at The Safe House has more than tripled since the vault began operations in March 2014.

Over the same period, gold bullion stored increased more than 200 percent to a record high of 50,000 troy ounces (1.55 metric tons).

“With the price of silver up over 40% since the start of 2016, we continue to see strong storage demand for silver bars and coins. We have seen a 30% increase in silver storage volume in the first half of this year,” says Silver Bullion founder Gregor Gregersen. “We believe there is tremendous long term potential as bullion buyers seek a safe jurisdiction like Singapore to store wealth away from the risks of the current debt-laden financial system.”

Silver Bullion’s precious metals vault, The Safe House, has the capacity to store 630 metric tons of tax-exempt precious metals. Singapore government agency, IE Singapore, lists The Safe House as one of the two world-class vaults in Singapore. Bullion stored at The Safe House is covered by a specialized class of insurance that also insures loss arising from mysterious disappearance as well as theft, fire and infidelity. Bureau Veritas, a London Bullion Market Association (LBMA) approved bullion inspector, audits The Safe House three times a year ensuring that customers’ stored bullion are accounted for.

The Safe House stores a diverse range of bullion, from 1oz coins to 1,000oz LBMA good delivery bars.

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